1799 Set 1799 Early Gold Set 1799 Set of Early Coins

1799/8 Large Cent

The coin, designed by Robert Scot, shows Liberty in profile facing right with the date below. Above her head is the word LIBERTY. Her hair is tied back with a ribbon, and it flows down her neck and behind her shoulders. The bust is strangely draped for a classical design, which was Scott’s goal. Dentils are at the periphery of both sides of the coin. The reverse shows a wreath of two olive branches tied with a ribbon on the bottom.

Enclosed in the wreath is the denomination, ONE CENT, written on two lines. At the bottom of the wreath is the fraction 1/100. Encircling the wreath is the legend UNITED STATES OF AMERICA. There is edge lettering that says ONE HUNDRED FOR A DOLLAR, which is visible in the new NGC holder.

In July 1796 there was a change made from Liberty Caps to Draped Busts. Scot, the Engraver, made a new die copying Gilbert Stuart’s drawing that was previously used for the Draped Bust silver coins. His assistant, Adam Eckfeldt, made a punch to make nineteen obverses to have this date. Other dies were made with the 179 already in and the final number available to be used for 1797, 1798, and 1799.

There were several reasons that caused the cents of these early years to be of lesser overall quality. Mint work had to be suspended from mid-summer to late in the fall because of the annual yellow fever epidemic. Each winter the old stored dies were put back into service.

Often they were rusted and chipped, and these imperfections showed on the coins they produced. A die chip is seen on the current coin. Planchets were imported from England because the local manufacturing companies were not able to produce ones of high quality.

Mint Director Boudinot gave Boulton & Watt, a British firm, his planchet orders because the locally produced planchets were more expensive and inferior. However, the ones used in 1799 came from Coltman Brothers, an American company. Mint records call them “black copper” because they were dark and rapidly deteriorated.

In addition to inferior materials to work with, Mint personnel also lived with the anxiety that their jobs would end because of the possible abolition of the Mint as a United States enterprise. Inexplicably, later die steel improved which enabled the dies to last longer. Hence more quality pieces are known after 1801.

All 1799 Large Cents are rare and in demand by date collectors and investors. In their combined population reports, NGC and PCGS have certified 197 pieces in all conditions. Most of these are in G to VF condition. Only two have been graded mint state, one by each service. PCGS has an MS61 and NGC has an MS62. These numbers do not account for resubmissions or crossovers.

1799 Silver Dollar

Before the Revolutionary War, coins from many European nations circulated freely in the American colonies along with decimal coinage issued by the various colonies. The most prominent among these were the Spanish silver dollar coins (also called pieces of eight or eight reales) minted in Mexico and other colonies of Spain with silver mined from Central and South America. These coins, along with others of similar size and value, were in use throughout the colonies. They remained legal tender in the United States until 1857. The dollar was intended to replace the Spanish, English, Dutch and French coins that dominated the commerce of the Confederation era. It was authorized on April 2, 1792 in an act that also created the United States Mint and our nation’s coinage. Because it was the Unit, the silver dollar was the most important coin created and the basis of the nation’s monetary system. All other coins struck, and all paper money as well, are either fractional parts of or multiples of the dollar. The dollar was to be .8924 fine and weigh 416 grains.

The early silver dollars were minted from 1794 until 1804. The denomination was on the edge. Beginning in 1836, when the minting of dollars resumed, the denomination was placed on the coin’s reverse and the edge was either plain or reeded. In January, 1837 the fineness and the weight was changed. The former became .900 and the latter 412.5 grains. Coinage of “regular” dollars was suspended between 1874 and 1877. During this time Trade Dollars were issued, which were made to circulate in the Orient.

The origin of the word dollar is from the German thaler. It was a large European silver coin that substituted for the gold florin in 1484. During the sixteenth century these coins became very popular in Europe. Other countries struck similar coins. With the discovery of large quantities of silver in Mexico and South America, the Spanish dollar was struck in great numbers. These pieces of eight circulated in the British American colonies.

On July 6, 1785, the dollar became the standard unit of the monetary system of the United States. The first of them, the Flowing Hair dollars of 1794-95, portrayed Liberty looking up and to the right with loose hair behind. The eagle on the reverse looked not much like an eagle. It was perched in a wreath with its head turned to the right. Later in 1795, while keeping the Small Eagle reverse, a new Draped Bust obverse coin was issued. This combination was minted until 1798. In that year, the Draped Bust obverse was combined with a new reverse, the Heraldic Eagle. The change to the Heraldic Eagle reverse was done to be in accord with the standard European practice of placing a coat of arms on a reverse of a coin. The gold and silver coins followed Scot’s heraldic eagle design.

In 1798 the Mint struck 327,356 dollars but did not record how many of each type were made. The next year, 423,515 Heraldic Eagle dollars were struck. The unexpected side effect of the large mintage of these two years was that many dollars were sent to China to pay for imported goods. They were also sent to the West Indies and were exchanged for Spanish dollars. Some of the silver dollars sent to the West Indies returned, but those sent to China rarely did.

During this time period, a silver dollar was a significant amount of money, and most people never saw them. Generally silver dollars were used for large commercial transactions and occasionally for private ones. In those times, one day’s pay for a skilled laborer was one dollar.

There are several varieties of Draped Bust Large Eagle dollars. The 1798 and 1799 dollars have minor obverse differences such as knobbed or pointed 9’s or wide or close dates. One reverse die had ten arrows instead of thirteen. There was an overdate, the 1799/8. Also one 1799 had a fifteen star reverse. The 1800 had several varieties as well. These include a dotted date, one with twelve arrows, and the famous AMERICAI stray punch. The 1801 proof dollar was a restrike. Only two are known. The 1802 dollar had two versions of 2 over 1, wide and narrow dates and a proof restrike of which only four are known. The 1803 dollar had large and small 3’s and a proof restrike of which only four are known. The famed 1804 dollar was struck between 1834 and 1835. There are eight originals and seven restrikes.

Some researchers feel that Gilbert Stuart, the famous portrait artist, was hired by Mint Director Henry DeSaussure to create the obverse design. It is said to be based on a drawing of Mrs. William Bingham, the former Ann Willing. Evidently John Eckstein, an assistant to Scot, made the plaster models poorly, which might explain why Stuart’s family refused to acknowledge his role in the coinage design. Another theory is that the design is based on a portrait of Martha Washington. In any case, the Draped Bust dollar portrait was and is considered one of the finest made. It remained in use until the end of circulating dollar coinage in 1803 and was also used on other denominations from the half cent to the half dollar.

The new reverse was first used by Robert Scot on the 1796 gold quarter eagle. It is an adaptation of the Great Seal of the United States of America; however, Scot reversed the arrows and olive branch. On the coin the eagle holds the arrows in its right talon, the opposite of the placement on the Great Seal. Perhaps the placement of the arrows was a warning to France, who was seizing American ships that were trading with Britain and to other world powers to be respectful of the sovereignty of the United States.

The design shows a draped bust of Liberty in profile facing right. Above is LIBERTY, and below is the date. Liberty’s hair is tied in the back with a ribbon and also flows down over her right shoulder. Seven six-pointed stars are to the left and six are to the right. The heraldic eagle reverse shows the eagle with up stretched wings and a Union shield on its breast. A banner inscribed E PLURIBUS UNUM curls across the left wing and under the right. The inscription UNITED STATES OF AMERICA, interrupted by the wing tips, is in an arc near the periphery. Thirteen stars are above the eagle’s head under the clouds in an arc pattern. Dentils are near the edge on both sides of the coin. The edge is lettered HUNDRED CENTS ONE DOLLAR OR UNIT with ornamentation between the words.

Full details are rarely seen on the dollars of 1798 to 1804. Weakness is often seen on the obverse on centers of the stars, the highest point of the hair, and the lines of the drapery. On the reverse the weak parts are often the shield, the feathers, the stars and the clouds. Dentils are often weak, and adjustment marks are frequently found on either side. Overweight coins were often adjusted by filing one side or the other. This adjustment process took place both before and after striking.

In their combined population reports, the two major grading services have certified 4,225 1799 silver dollars in all conditions and varieties. This number is slightly less than one-tenth of the original mintage of 423,515. Of the certified pieces, VF20 to XF45 pieces are most often seen. There are only 140 are in mint state with 13 in grades MS65 or MS66. None are higher. These numbers do not account for crossovers or resubmissions.

1799/8 Silver Dollar

The 1799/8 Silver Dollar overdate has three varieties. All of them have a common obverse, known as Obverse1. Obverse 1 has a 9 clearly punched over a previous 8. It is very close to the drapery. The stars on this obverse are very close together, and the letters of LIBERTY are widely spaced. No 1798 dollars were made from this die.

BB-141 combines Obverse 1 with Reverse A. Reverse A has 15 stars on it. The two extra stars are almost hidden in Clouds 1 and 8. Only their points show. The pattern of stars is unique with five in the top row, six in the second, and two in the third.

Evidently the engraver first punched seven stars in the top row and six in the second. With the one on each side of the eagle’s head, he had 15 stars. To hide the mistake, he made Clouds 1 and 8 larger. Now the middle row would not have to be changed, and the die had the correct number of stars. The normal star pattern is six-five-two.

BB-142 combines Obverse 1 with Reverse B. Reverse B has 13 stars above the eagle. A leaf points to the center of the I in AMERICA. Star 12 touches the lower part of the eagle’s beak, and its lower ray points to the left outside of the U in PLURIBUS. This U is often weakly struck. The far right edge of the A in STATES is above the junction of Cloud 3 and Cloud 4. The first A in America touches both Feather 3 and Feather 4.

BB-143 combines Obverse 1 with Reverse C. Reverse C also has 13 stars above the eagle. A die crack runs from the edge of the coin down through the curved part of the D in UNITED and shows at the base. A leaf point is below the left side of the I in AMERICA.

Star 12 touches the lower part of the beak and enters the eagle’s mouth. Its lower ray points to the right side of the left upright of the U in PLURIBUS. Only Feather 4 touches the first A in AMERICA. There is a bar between Cloud 4 and Cloud 5 and a die flaw between the left base of N and the arrowhead.

Because the grading services do not automatically identify varieties, it is unclear in absolute numbers how many varieties have been certified. At NGC 240 overdates have been certified, but the breakdown is as follows: BB-141 37, BB-142 16, and BB-143 16.

At PCGS 235 15 Reverse Star overdates have been certified, which are also known as BB-141. They have also certified 165 13 Reverse Star overdates; however, the breakdown is significantly less as follows: BB-142 10 and BB-143 4. The only clear inference that one can make is that the BB-143 is the rarest, the BB-142 is in the middle of the group, and the BB-141 is the most common of the group.

1799 Half Eagle, Small Stars Reverse

The design was probably taken from a Roman engraving of a Greek goddess. Liberty’s cap was certainly not a Phrygian or liberty cap. The liberty cap, emblematic of freedom, was worn by freed slaves and freed gladiators in Roman times. It was a close fitting cap used to cover a shorn head, which was one of the way slaves were identified. The oversized cap worn by Liberty has been called a turban, and the design has been called the Turban Head because of it.

Perhaps the design was a warning to France, with whom the United States was engaged in an undeclared naval war, and others to be mindful of the new country’s sovereignty. In the field above the eagle are thirteen stars and above them, seven clouds. A banner from wing to wing has the motto E PLURIBUS UNUM.

During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was 1,200 per year.

The 1799 half eagle had a mintage of 7,451, which includes both large and small reverse stars varieties. In its population report, NGC shows 2 in AU55 condition with 14 better. CAC as of May, 2011 has 1 in AU55, the present coin, and 2 higher. Clearly this is a good coin that’s sought after now and has the potential of being even more in demand as interest increases in early gold issues.

1799 Half Eagle, Large Stars Reverse

The obverse design shows Liberty facing right. Below her is the date which is off center to the left. Between the date and the word LIBERTY on the left side of the coin are eight stars. Five stars follow LIBERTY down to the bust. Liberty wears a large, soft cap. Her hair flows down and also shows on her forehead. The design was probably taken from a Roman engraving of a Greek goddess. Liberty’s cap was certainly not a Phrygian or liberty cap. The liberty cap, emblematic of freedom, was worn by freed slaves and freed gladiators in Roman times. It was a close fitting cap used to cover a shorn head, which was one of the way slaves were identified. The oversized cap worn by Liberty has been called a turban, and the design has been called the Turban Head because of it.

The reverse shows a heraldic eagle. However, Scott mixed up the positions of the arrows and olive branch. The arrows held in the wrong claw signify defiant militarism. Either Scott made an error copying the image of the Great Seal, or he deliberately changed the symbolism. Perhaps the design was a warning to France, with whom the United States was engaged in an undeclared naval war, and others to be mindful of the new country’s sovereignty. In the field above the eagle are thirteen stars and above them, seven clouds. A banner from wing to wing has the motto E PLURIBUS UNUM.

The early half eagle coins have no denomination because gold was valued by its weight and fineness as was the European coinage of the time. As seen on contemporary Large Cents, dentils are at the edge of both the obverse and reverse of these coins.

Thomas Jefferson chose Robert Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. Scott was born in 1744 in Edinburgh, Scotland or England. (Documentary evidence is lacking as to where he was born.) He was trained as a watchmaker in England and learned engraving afterwards. He moved to the United States in 1777, where he worked as an engraver of plates, bills of exchange, and office scales. During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was 1,200 per year.

The Mint Director received only $800 dollars per year more. Scot’s ability to make dies was limited, and he was advanced in years with failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. He was responsible for designs of most of America’s first coins. These include the Flowing Hair and the Draped Bust motifs used on the early silver coins, and the gold quarter eagle, half eagle and eagle. Scot also designed the 1794-1797 half cent, the 1800-1808 draped bust half cent, and the Thomas Jefferson Indian Peace Medal. Scot died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

1799 Eagle, Small Stars Obverse

For the obverse of the eagle, Robert Scot used a matronly bust of Liberty facing right. She wears a large, soft cap high on her head. Her hair puffs out from under it and falls to her shoulder. One heavy strand is wound around the hat, giving a turban-like appearance. LIBERTY is at the upper right with eight six-pointed stars to the left and five to the right. The date is below the truncation. The reverse shows a large heraldic eagle as its main device.

The eagle holds in its right talon a bundle of arrows and an olive branch in its left. Across the right wing and neck is a ribbon that is inscribed with the motto E PLURIBUS UNUM. A galaxy of stars is above the eagle’s head with clouds above the stars. The whole is partially enclosed with the required inscription UNITED STATES OF AMERICA. Dentils surround the coin on both sides, and the edge is reeded.

Much has been made of Liberty’s cap being a Phrygian cap. However, a true Phrygian or liberty cap was a close fitting cap worn by freed slaves. It was emblematic of freedom because the heads of slaves and gladiators were usually shorn. Certainly the cap Liberty wears in the eagle is not such a cap; however, it is reminiscent of caps worn by fashionable ladies of the times.

The use of the heraldry on the reverse has been questioned. Breen suggests that it was either a blunder or a “piece of stupid saber-rattling bravado” because the arrows are in the war-like eagle’s dexter claw. On The Great Seal of the United States, Scot’s source, the arrows are in the eagle’s sinister claw. However, Breen fails to recognize that the United States was engaged with France in an undeclared naval war (The Franco-American War, also called the Quasi-War, took place from 1798 to 1800.) It was important for the United States to assert its sovereignty, and this war may have been the reason for the change in symbolism.

Robert Scot was appointed the first Chief Engraver of the United State Mint on November 23, 1793. He was criticized in his own time and later for the relatively poor quality of his designs, especially compared to those made in Europe. Thomas Jefferson had chosen Scot to be the Engraver under authority granted by Congress. The Constitution, adopted in 1789, gave Congress the right to coin and to regulate money. Both Jefferson and Hamilton argued in favor of a federal mint to coin money for the new country. Scot was appointed out of necessity. He had been an engraver of paper money during the Revolutionary period, but his ability to work as a die sinker was limited. He was advanced in years and his eye sight was failing. He worked to the best of his ability and designed gold, silver, and copper coins. However, his inability to equal or surpass the European standards made his job a target. Unfortunately at the time, there was no one more qualified. Congress did not want to contract the die-making to a European firm, and so Scot remained the Engraver.

The Small Stars eagle had an unknown mintage that was part of the 37,449 listed for the year. At PCGS, 147 Small Stars have been certified out of a total of 591for the date. Most examples are circulated with some in lower mint state grades and none above MS64.

1799 Eagle, Large Stars Obverse

LIBERTY is at the upper right with eight six-pointed stars to the left and five to the right. The date is below the truncation. The reverse shows a large heraldic eagle as its main device.

The whole is partially enclosed with the required inscription UNITED STATES OF AMERICA. Dentils surround the coin on both sides, and the edge is reeded.

Certainly the cap Liberty wears in the eagle is not such a cap; however, it is reminiscent of caps worn by fashionable ladies of the times.

Neither the half eagle nor the eagles of 1799 have a denomination on the coin. Gold coins were valued by their weight and fineness as they were in Europe; consequently, the denomination was actually irrelevant.

The mintage of the Large Stars Reverse eagle is unknown, but it is part of the 37,449 that were minted for the year. At PCGS, 444 Large Stars have been certified out of a total of 591for the date. Most examples are circulated with many in lower mint state grades. There are 7 at MS65 and 1 at MS66.